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  • TechCabal Daily, 749 – Mastercard Europe Gives Jumia IPO A Confidence Boost With $56 million Private Placement

    By

    Akindare Okunola
    TechCabal Daily, 749 – Mastercard Europe Gives Jumia IPO A Confidence Boost With $56 million Private Placement
    Source: Techweez

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    02 – 04 – 2019

    Hello there and welcome! Please take a moment to subscribe to our newsletter, if this mail was forwarded to you, and have it delivered directly to your mailbox.

    Ugandan payments and e-commerce company, Xente, has berthed in Nigeria. Nigeria will become its first home outside Uganda and users will be able to order for and have delivered to them, items from Ugandan merchants. They’ll also be able to make payment in installments or using mobile money. Xente says it plans to expand into three more countries – Kenya, South Africa and Tanzania – before the end of April. Xente’s entry into the Nigerian market comes at a time when the fate of ecommerce companies have raised questions about the viability of e-commerce in the country vis a vis Jumia listing on the New York Stock Exchange.

    Jumia, ahead of its listing on the New York Stock Exchange, has confirmed a $56 million private placement from Mastercard Europe, a confidence boost for the African e-commerce company whose public listing comes amid widening losses. The company has set its share price at a range of US$13 – $16 per share. Find out more about Jumia’s IPO in this Quartz article.

    According to Techzim, Zimbabwe has received USD$400, 000 from the International Telecommunications Union to deepen its fight against cyber threats. Cyber crimes are on the rise in Zimbabwe, with law enforcement most times expressing helplessness in dealing with these cases. The Deputy Director General of the Postal and Telecommunications Regulatory Authority of Zimbabwe says the government is looking to set up a research committee to draw up a national approach to handling cyber threats. The funds will be committed to supporting their activities.

    Global financing and consulting company, KPMG, has unveiled findings from a CFO Outlook Survey. The survey questioned a variety of Chief Financial Officers about their outlook on 2019 in relation to their organisations and how the government can create a more enabling business environment in Nigeria. Some findings of the survey show that 84% of the respondents agree that efforts to ease doing business is yet to have impact on a lot of business in the country while 67% of respondents say regulatory irregularities and talent are top impediments to organisational growth.

    Nigerian human resource platform, SeamlessHR, has raised pre-seed funding from US-based VC firm Tofino Capital. The company says the funding will enable them drive expansion as well as grow their team. The platform provides a robust end-to-end human resource management solution for organisations, from hiring to training and managing work force.

    South Africa’s University of Pretoria has launched a research campus, Future Africa Institute. The multi-disciplinary science institute will support innovative research projects seeking to solve new and emerging challenges in the continent, from ideation to execution.

    Dimeji Falana, co-founder and CEO of Edves has made the list of 25 founders for the 2019 Westerwelle Young Founders Programme. Edves is a school management software that offers learning institutions a comprehensive management platform from enrollment to personalised learning for students and educators using artificial intelligence. The programme is a six-month long programme that offers entrepreneurs business support and access to an international network.

    Applications are now open for the Kaduna Digital Entrepreneurship Incubation Program, a six month training and mentorship program for entrepreneurs based in Kaduna state, Nigeria. The program is organised by Ventures Platform Foundation in partnership with the Kaduna state government. Apply here by May 12, 2019.

    What makes an A+ founder? This short piece on Ventures Platform gives us some answers.

    From TechCabal

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    + Despite Increase In Tariffs, Nigeria’s Solar Industry Remains Resilient

    That’s it for today.
    See you tomorrow!
    – Kay

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